19th February 2020 – The Substation
Automation Market report provides in-depth analysis and insights into
developments impacting businesses and enterprises on global and regional level.
The study covers the global Substation Automation Market presentation regarding
revenue contribution from multiple segments and covers a comprehensive analysis
of key market trends, drivers, restraints, and opportunities influencing
revenue growth of the industry. This research report studies the market size,
industry status and forecast, competition landscape and growth opportunities.
The global Substation Automation Market
is expected to value at USD 185.80 billion by 2024. The substation automation
industry is subject to witness a substantial growth due to the increasing
adoption of automation and modernization for industrial processes, and growing
focus towards high-end productivity, growing number of large-scale production
lines, especially for the manufacturing of vehicles and electronic devices.
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Substation automation offer numerous
advantages such as cost efficiency, higher rate of operation, size limitation,
and superior quality coupled with higher productivity. Globally, the substation
automation market is predicted to grow at higher CAGR in the forecast period,
providing numerous opportunities for market players to invest for research and
development in the substation automation industry.
Additionally, enhanced manufacturing
efficiency and flexibility to carry out complex industrial operations are
propelling market growth, in the recent years. Increasing awareness among
manufactures about benefits associated with early adoption of substation
automation units are predicted to expand market reach in the upcoming years.
Introduction of advanced safety
protocols for substation automation units to carry out various operational
procedure allows manufactures to achieve desired efficiency and performance
capability. Additionally, implementing advanced safety measures provide longer
shelf life for the substation automation units are propelling market demand.
The recent technological advancement in
the modernization of manufacturing sector coupled with development of the novel
technologies such as gripping techniques and kinematics to enhance performance
level of substation automation units are anticipated foster market growth in
the near future.
Typically, power generation plants
require large area and centralized processing units. With the development of
latest trend involving distributed systems, allows decentralization of energy
generation system. In substation automation systems, various energy conversion
units are located near energy consumers, as large units are replaced by small
capacity units. Use of substation automation units offer highly efficient,
dependable and environment-friendly solutions. The substation automation market
is broadly categorized into three major segments based on the module type such
as SCADA, IEDs and communication network. The SCADA is considered as one of the
fastest growing segment in the with substantial revenue generation in the last few
years.
Some of the major objectives of this
report:
·
To present detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of global Substation Automation Market.
·
To provide insights about
factors affecting the market growth. To analyze the Substation Automation
Market based on various factors- price analysis, supply chain analysis, porter
five force analysis etc.
·
To provide historical and
forecast revenue of the Substation Automation Market segments and sub-segments
with respect to four main geographies and their countries- North America,
Europe, Asia, and Rest of the World.
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
Trace and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product evolutions, and research and developments in the
Market.
·
To present strategic profiling
of key players in the market, comprehensively analyzing their basic
capabilities.
Some
of the Major Market Players Are:
ABB Ltd., Cisco Systems, Inc.,
Crompton Greaves Ltd., Eaton Corporation Plc, General Electric Co., Larsen
& Toubro Ltd., Siemens AG, Schneider Electric S.E., Trilliant Holdings,
Inc., and Venson Electric Pvt. Ltd.
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